|
Midcontinent Express Pipeline Files for FERC Certificate
HOUSTON, Oct. 10, 2007 - Midcontinent Express Pipeline LLC today filed an application with the Federal Energy Regulatory Commission (FERC) requesting a certificate of public convenience and necessity that would authorize construction and operation of the approximately 500-mile Midcontinent Express Pipeline natural gas transmission system. Subject to receipt of regulatory approvals, construction on the pipeline is expected to commence in August 2008 and be in service by the first quarter 2009.
“Midcontinent Express will strengthen the nation’s energy infrastructure by providing access to Midwest, Northeast, Mid-Atlantic and Southeast markets for growing domestic onshore supplies of clean-burning natural gas from the Barnett Shale and Bossier Sand in Texas, the Fayetteville Shale in Arkansas and the Woodford/Caney Shale in Oklahoma, as well as other new and existing gas supplies in the region,” said Scott Parker, president of natural gas pipelines for Kinder Morgan Energy Partners, L.P. (NYSE: KMP).
The approximately $1.27 billion project will extend from southeast Oklahoma, across northeast Texas, northern Louisiana and central Mississippi, to an interconnection with the Transco Pipeline near Butler, Ala. Midcontinent Express will have initial capacity of up to 1.4 billion cubic feet per day (Bcf/d) and has binding commitments of approximately 1 Bcf/d from creditworthy shippers for long-term transportation capacity. The pipeline will consist of approximately 265 miles of 42-inch, 196 miles of 36-inch and 41 miles of 30-inch pipe, and have up to 13 receipt and/or delivery interconnections. The delivery interconnections will provide access to numerous downstream markets, including those served by the NGPL, Transco, Texas Eastern, Tennessee, Columbia Gulf, Texas Gas, Southern Natural, Destin and ANR pipelines.
Midcontinent Express Pipeline is a 50/50 joint venture between Kinder Morgan Energy Partners, L.P. and Energy Transfer Partners, LLC (NYSE: ETP). KMP is managing the construction of the project and will operate the pipeline. More information on the project is available at www.midcontinentexpress.com.
Kinder Morgan Energy Partners, L.P. is a leading pipeline transportation and energy storage company in North America. KMP owns an interest in or operates more than 24,000 miles of pipelines and 150 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in North America. One of the largest publicly traded pipeline limited partnerships in America, KMP has an enterprise value of approximately $18 billion. The general partner of KMP is owned by Knight Inc. (formerly Kinder Morgan, Inc.), a private company.
Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP’s natural gas operations include intrastate natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. These assets include approximately 14,000 miles of intrastate pipeline in service, with an additional 400 miles of intrastate pipeline under construction, and 2,400 miles of interstate pipeline. ETP is also one of the three largest retail marketers of propane in the U.S., serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE: ETE) owns the general partner of Energy Transfer Partners and approximately 62.5 million ETP limited partners units. Together ETP and ETE have a combined enterprise value of approximately $20 billion.
This news release includes forward-looking statements. Although Kinder Morgan and Energy Transfer Partners believe that their expectations are based on reasonable assumptions, the companies can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s and Energy Transfer’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.
Joe Hollier
Media Relations
Kinder Morgan
(713) 369-9176
Mindy Mills
Investor Relations
Kinder Morgan
(713) 369-9490
Renee Lorenz
Investor Relations
Energy Transfer
(214) 981-0700
www.energytransfer.com |
